ING Wholesale Banking in Singapore
ING Bank N.V. is a global bank with a strong European base. Our purpose is to empower people to stay a step ahead in life and in business.
ING provides specialised lending, tailored corporate finance, debt & equity market solutions, sustainable finance solutions, payments & cash management, and trade & treasury services.
ING’s wholesale Banking business is present and active in 11 major economies in the Asia Pacific, namely China, Hong Kong SAR, Taiwan, India, Indonesia, Japan, South Korea, Philippines, Singapore, Vietnam and Australia.
The Team
ING's global tax function is based in Netherlands. The Wholesale Banking tax team in Asia currently comprises three staff based in Singapore who report into Head of Tax, Asia.
ING is now seeking to replace one of its staff to support the Wholesale Banking business. The new hire will be based in Singapore and will report to the Head of Tax, Asia based in Singapore. There will be no staff reporting functionally to this position.
Main Responsibilities
Singapore
Managing all tax compliance work for Singapore branch including -
- Preparation and submission of corporate tax return (review of tax return will be done by tax agents), managing CIT queries, tax audits and tax litigations
- Calculation of quarterly tax provisions and preparation and submission of quarterly tax reports to HO (ETR, Deferred Tax, Tax losses, Tax Exposures)
- Calculation of minimum top-up tax under BEPS 2.0 regime
- Managing FSI Tax Incentives, including renewal of tax incentives, filing of annual returns to MAS, maintaining updated operational procedure manual for classification of income
- Preparation and submission of GST returns, keeping the GST manual updated based on latest changes, conducting annual GST refresher trainings and managing GST ACAP process
- Advising on withholding tax rates and related returns / forms
- Liaise with external tax agents for preparation of local transfer pricing file for Singapore branch, including benchmarking studies
- Advising Business on ad-hoc queries related to transfer pricing for transactions / deals booked in Singapore Branch
India (FPI licence and Rep Office)
Managing all tax compliance work for India FPI Licence including -
- Review and submission of corporate tax return (preparation done by tax agents), managing CIT queries, tax audits and tax litigations.
- Arranging for Form 10F, tax residence certificates, Power of Attorneys, etc.
- Guiding Rep Office staff with any queries related to tax matters.
Regional (all countries in Asia)
- Arranging for Tax Residence Certificates and Tax Declarations/forms required for withholding tax purposes.
- Providing advice to the Business Units on tax implications of various deals including withholding taxes, GST and treaty benefits.
- Reviewing and providing comments on the tax representation clauses in client agreements.
- Advising on international remote working arrangements requested by ING employees.
Your Profile
- The successful candidate will be a graduate with a recognised tax or accounting qualification with Singapore and international tax experience, preferably in a taxation role with another Bank. The candidate should have at least 8-9 years of working experience in taxation field.
- The candidate should be able to demonstrate a good academic background and success in their career to date with strong technical and analytical skills, should have an eye for detail and should be able to extract the information from finance team for tax compliance work. The candidate should be confident in dealing with front office staff and finance team, have good interpersonal and communication skills, a pragmatic approach to problem solving and excellent organisational skills.
- Fluent written and spoken English is essential.
